Lagos State Governor Babajide Sanwo-Olu is preparing to present an ambitious 2025 Appropriation Bill to the Lagos State House of Assembly today.
The new budget, expected to surpass the ₦2.267 trillion allocated for 2024, signals a forward-looking financial roadmap for Africa’s most dynamic city.
Gbenga Omotoso, Lagos State’s Commissioner for Information and Strategy, announced the development in a statement but refrained from revealing the exact budget figure. He confirmed that the proposed financial plan, themed Budget of Sustainability, emphasizes continuity, resilience, and prosperity for Lagos residents.
Omotoso highlighted that the budget will focus on five critical pillars, including infrastructure development, economic diversification, and institutional reforms, designed to solidify Lagos’s position as a leading urban hub.
In 2024, Lagos operated under the Budget of Renewal, with a total allocation of ₦2.267 trillion. Of this, ₦1.315 trillion (58%) was earmarked for capital expenditure to drive infrastructure growth, while ₦952.4 billion (42%) supported recurrent expenditure. The budget included an additional ₦21.74 billion approved by the Assembly to fast-track critical infrastructure and strategic interventions.
Reflecting on the 2024 budget, Governor Sanwo-Olu stressed that its success hinged on efficient implementation to deliver tangible benefits for Lagosians. He reiterated that the upcoming 2025 budget would align with the state’s THEMES+ agenda, ensuring continuity in key projects while charting a path toward a “Greater Lagos.”
The governor also called on citizens to play an active role in the state’s progress by fulfilling their civic duties. He pledged that his administration would prioritize transparency and accountability to maximize the budget’s impact.
“The effort to build Lagos is a partnership,” Sanwo-Olu said. “This administration is committed to delivering the greatest benefits to the greatest number of residents while ensuring effective implementation of the budget’s objectives.”
As Lagos continues to grow as a beacon of urban development in Africa, today’s budget presentation will likely provide a detailed roadmap for sustained progress in infrastructure, education, technology, security, and other key sectors. Residents and stakeholders await the governor’s proposals, which promise to be a bold step toward a brighter and more sustainable future for the megacity.
